Sunday, July 29, 2007

After the GST hike, the word "SALE" appealed to ever more people. And the phrase "50% and another further 30% discount!" literally send waves of people to jam up the place, as if the items were give-aways.

During my not-so-wise trip on a saturday afternoon, I managed to snapped up a Pierre Cardin top and belt plus a Goldlion top. Indeed, my total savings exceeded my spending. Pleased with my buys, I made my way to the exit and accidentally overheard this conversation.

I won't blame the education system for teaching them addition. However, they lack the understanding of simple financial concepts like discount. That is sheer financial illiteracy or pure ignorance. Please note, I am not criticizing their level of intelligence. And I am sure there are many others who are as gullible as them.

Effectively, the discount was 65%, not 80%. The word "further" made a big difference to the whole meaning. Though most people will see through the marketing strategy deployed by Metro, few are still in the dark.

Anyway, be it 65% or 80%, we are subconsciously practising the concept of minimizing expenses, which is beneficial to anyone except impulsive shoppers. I being a very calculative person where money matters (trait of an accountant), spent $170 for 7 items in few receipts over 2 days. Total savings that I've enjoyed amounts to nearly $300.

If you have any apparels or clothings to buy, don't hesitate! Go to Metro now! Just don't go in the belief of an 80% discount. :P